Model – 1  –   Society invites developer to take up building project – Construction of new building with new FSI –  to invest money / to do management / get approval / complete construction. Society allows developer to sale additional salable area to recover cost & profit in proportion of money invested – work done.
Society gets extra carpet area / hardship compensation – corpus / rent / other benefits.
Developer offers to do project as above in lieu of Sale rights of salable area only.
Example – MHADA / Textile mill land / Cess properties / all Govt. owned property / SRA / Private Society where land rights remains with existing society before & after project.

Model – 2  –   Society invites & offers the development rights to developer and demands benefits in form of ( cash or Kind)  extra carpet area / hardship compensation – corpus / rent / other benefits.
Developer offers is in lieu of entire Development & Sale rights of the society plot.
Example –  A farmer / society selling  land for development in lieu of money / benefits.
The problem – 80% of private society has adopted this model due to ignorance & Developers high handiness / Greed.  90% of Architects / Engineers / Advocates suggest this option, due to lack of research & analysis / easy money.

1. Equal & proportionate distribution of additional property to be created under redevelopment.
2. Project Timeline – as less as possible / minimum or less that 4 – 5 yrs..

Option 1: To address the queries as & when asked .(90% of Industry – Easy – for MC & PMC but tough for members)
Option 2: To organize the entire process in such way that maximum information about project must reach to all members before decision.(Tough for MC & PMC but Easy for members )

Theory – 1 –  follow amateur / normal – As and when work – issues appears – the solutions to be provided  .  ( Reason fees / more fees ? )   It is legal & technical  – works better for corporate identity  of  Construction industry .

Theory – 2 – Socialist  PMC –  follow  Standard / normal  – Simplification of project &  information.
First it has to be Social then – technical & legal  – works better for NON – Corporate identity  like housing society.
To visualize entire project through social – legal – technical – financial angle in advance and provide conceptual information,  forward to all before decisions for project process . Create awareness among all members .  So less issues appears   =  the solutions results into TRANSPARENCY  = UNITY .
As REX  PMC – we are of 99 model  PMC  –  10 years prior to other 09 models of PMC.

Why Theory 2 ?    An effective & good PMC required to do such activity .
It is social redevelopment – means involve all the members .   how  ?
Redevelopment means  –  Reconstruction of our own home jointly.
If  100  members means – home for  100 families  =  500 persons.
Everyone to be involved / needs to put in just one hr per week for 2 / 3 years.  For redevelopment of your own home .

1. Youngsters – Board to  non married –  Search for good design building – 6 mths –  present three – get prizes.
2. Ladies – Search & look & decide  quality of building finishing materials ( tiles – paint – fittings – etc )
3. Active members – ( at Building ) to works at all issues .
4. Active members – ( external ) to work at other general issues.
5. Senior Citizens – Watch all members at society till vacation / watch site with tape in hand

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• Conveyance of the property
• Property Card in the name of the Society
• Old Occupation Certificate along with Plans
• CTS Plan
• List of Allotment of Members along with the carpet area
• Development Plan Remark

The Real Estate Regulation and Development Act of 2016 was introduced and passed by the Central Government of India in order to safeguard home buyers and to also encourage investment in the real estate industry. Buyers’ grievances can be directed to MAHARERA for a quick resolution. The act covers the end to end process of purchasing a home, as well a redevelopment.

A Cooperative Housing Society may provide a limited Power Of Attorney to a developer in order to obtain the necessary approvals. Some of the essential approvals needed (but not limited to) are: NOC from the Chief Fire Officer, Traffic NOC, Storm Water NOC, NOC from BMC for water, NOC for a Borewell, Building Proposal Department’s approval, among others.

• A Special General Body Meeting must in majority approve the redevelopment of the project.
• Appointing a legal and a project management consultant so that the housing society members are guided appropriately through the whole procedure
• Obtaining bids from various developers/builders.
• Vetting the bids, and accordingly selecting a builder/redeveloper who meets the required legal and financial requirements.
• Obtaining the necessary approval for the plans from various regulatory bodies, and then allotting the developer.
• Obtaining the necessary signatures on the documents required in order for the process to go ahead.
• Fulfilling all financial and other commitments, and then ensuring the building is vacated, and possession of the existing premises is handed over to the assigned developer/builder.
• Once the redevelopment project is completed, issuing of the Occupancy Certificate, and handing over possession to the owners.

Any building which has not utilised the full potential of the plot of the prevailing DC regulations can opt for redevelopment. This is subject to the housing society and the owner having a clear, marketable Title.

When considering a developer to implement a redevelopment project, keep the following in mind:

• The financial stability of the developer
• Past performance
• If there is there any litigation against the company / group of companies?
• Has the developer adhered to all statutory payments and compliances?

Transparency is one of the most important factors to be considered during redevelopment. All the necessary terms and conditions must be listed and documented beforehand. No conditions should be accepted orally. Illegal activities are absolutely not permitted during the process of redevelopment

There are several factors that go into determining the value of the offer. Each project’s feasibility varies on several things, some of which are the existing utilization of the building, the plot, and how it is connected to the road, and sometimes even if road widening is needed

Existing housing society members can purchase additional area from the developer. As existing members, they may be able to enjoy preferential rates. The payment terms will be worked out as per the progress of work. Member’s heirs may also purchase area and can become co-owners by availing housing loans if needed

When a project is redeveloped, there are a number of benefits that the home owner can receive which include:

• Additional area over and above their existing carpet area
• Hardship compensation
• Reimbursement of rent
• Brokerage charges, relocation charges etc.

In a redevelopment project the stamp duty registration and statutory payments on the area are borne and paid for by the developer. Any pending payment of the existing members shall be borne by themselves. If a housing society member purchases additional area, all payments such as Stamp Duty, Registration, GST etc. will have to be borne and paid by them

A cooperative housing society works on a majority and is not run by an individual. A majority of 75% votes is required to carry out a redevelopment project. No individual member for his personal gains can stall the redevelopment of a project

Once a developer is selected, and the development agreement is registered, it takes about six months to get the necessary permissions from the Municipal Corporation following which the construction can commence.